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calgro m3 holdings ltd (CGR) Details

Calgro M3 Holdings Limited, together with its subsidiaries, is engaged in the residential land development and construction businesses in South Africa. The company provides a range of solutions in the residential property sector, including project management of turnkey construction projects; procurement and servicing of land, either alone or in strategic partnerships with municipal councils and financial institutions; construction of top structures; and marketing for sectional title, cluster, affordable, and low-income homes. It is also involved in the integrated or mixed-use development of BNG, CRU, social, GAP, FLISP, affordable, and mid-to-high income housing. The company was founded in 1995 and is headquartered in Sandton, South Africa.

calgro m3 holdings ltd (CGR) Key Developments

Calgro M3 Holdings Limited Provides Earnings Guidance for the Year Ending February 28, 2015; Announces the Commencement of the South Hills and Belhar Projects

Dec 5 14

Calgro M3 Holdings Limited provided earnings guidance for the year ending February 28, 2015. The company expects an increase of not less than 35% in earnings per share (EPS) and not less than 30% in headline earnings per share (HEPS) for the twelve months ending February 28, 2015 when compared to the reported EPS and HEPS of the corresponding period of 83.16 cents per share.
The company announced the commencement of the South Hills and Belhar Projects. These integrated residential developments will consist of 5,327 housing units in the South Hills precinct and 3,609 housing units in the Belhar precinct. The SouthHills project, located 6km south of the city`s central business district, is being undertaken in partnership with City of Johannesburg, and Standard Bank with estimated revenue of ZAR 1.95 billion. The Belhar project is adjacent to the University of the Western Cape and the Cape Peninsula University of Technology in the Belhar CBD and 2km from the Cape Town International Airport with estimated revenue of ZAR 1.21 billion.

Calgro M3 Holdings Limited reported unaudited consolidated earnings results for the six months ended August 31, 2014. For the six months, the company’s revenue was ZAR 412,076,000 against ZAR 434,638,000 a year ago. Operating profit was ZAR 57,209,000 against ZAR 33,699,000 a year ago. Profit before taxation was ZAR 82,195,000 against ZAR 58,743,000 a year ago. Profit after taxation was ZAR 71,050,000 against ZAR 51,040,000 a year ago. Profit attributable to equity holders of the company was ZAR 71,050,000 against ZAR 51,040,000 a year ago. Fully diluted earnings per share were 50.97 cents against 40.16 cents a year ago. Fully diluted headline earnings per share were 55.90 cents against 40.16 cents a year ago. Net cash from operating activities was ZAR 121,621,000 against net cash used in operating activities of ZAR 167,500,000 a year ago. Net asset value per share was ZAR 396.62.

Calgro M3 Holdings Limited announced that the company’s Headline earnings per share for the six months ended August 31, 2014 is expected to be between 46.96 cents per share and 54.97 cents per share compared to HEPS of 40.16 cents per share reported in the previous corresponding period. This equates to an increase of between 16.93% and 36.88%, respectively. Earnings per share for the six months ended 31 August 2014 are expected to be between 51.88 cents per share and 59.92 cents per share compared to 40.16 cents per share as reported in the previous corresponding period. This equates to an increase of between 29.18% and 49.18%, respectively. The difference in HEPS and EPS is due to a fair value adjustment as a result of the buyout of 24% joint venture partners (International Housing Solutions) in the Summerset project (Clidet (Proprietary) Limited).

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